However, the board has authorized exploration of other options,including the sale of selected non-strategic assets and theconversion of the company to a real estate investment trust(REIT).

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The CEO explained that because of recent developments employingthe tax efficient REIT structure to acquire timber, the company isinterested in determining whether this investment vehicle may be amore appropriate structure for growth.

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Crown Pacific announced in March that it would explorealternatives to increase unitholder value with its advisor, UBSWarburg.

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